NEW YORK NHK Spring Precision of America Inc. (NSPA) has completed a $19-million expansion of its Louisville, Ky., facility to grow its spring wire production.
The new capacity will come online in early 2014, plant production manager Corey Reuber told AMM.
The company, a subsidiary of Yokohama, Japan-based NHK Spring Co. Ltd., has built a new 57,000-square-foot facility that expands operations of the existing 93,000-square foot plant. It also added 50 jobs.
The expansion follows significant growth in the automotive industry in Kentucky, which employs more than 80,000 people at more than 450 motor vehicle-related facilities, according to the Kentucky Cabinet for Economic Development.
NSPA produces springs for major automotive manufacturers. The Kentucky Economic Development Finance Authority preliminarily approved $1 million in tax incentives for the company and tax benefits of up to $100,000 for construction, building fixtures and research and development equipment.